Tata Steel Denies Collusion, Cites Global Trends as It Prepares CCI Response

As per Moneycontrol report, Tata Steel has indicated that it will reply to the Competition Commission of India’s (CCI) antitrust investigation after receiving the full set of documents, maintaining that domestic steel prices are driven by international market dynamics and input costs. 

Tata Steel’s Position on the CCI Investigation 

Managing Director T.V. Narendran told Moneycontrol on February 9, 2026, that the company will submit a detailed response once all documents are in hand.  

He denied any allegation of price collusion, stating that steel prices fluctuate in line with global benchmarks and raw material costs rather than any coordinated action by Indian producers. 

Background of the CCI Probe 

The CCI probe, launched in 2021, initially targeted nine steel producers after real estate developers raised concerns over rising construction costs.  

The investigation later expanded to 28 steel makers, including Tata Steel and JSW Steel. In a January 6, 2026, order, the commission named 56 senior executives, covering periods from 2015 to 2023, as liable for alleged price collusion. 

Read More: Tata Steel Q3 FY26 Earnings Results Show YoY Growth and QoQ Decline! 

Market Transparency and Pricing Mechanisms 

Narendran highlighted that steel prices are published daily across multiple benchmarks such as the Mandi Gobindgarh and Raipur indices.  

This daily publication, he argued, creates a transparent market with hundreds of participants, reducing the likelihood of coordinated price setting. 

Implications for the Steel Industry 

The probe follows a sharp rise in steel prices after a post covid surge in demand from the automotive and manufacturing sectors.  

While the CCI’s findings could lead to penalties for the named executives, Tata Steel’s response underscores the importance of distinguishing global price drivers from domestic market conduct. 

Tata Steel Share Price Performance  

As of February 10, 2026, at 9:25 AM, Tata Steel share price on NSE was trading at ₹202.43 up by 0.21% from the previous closing price. 

Conclusion 

Tata Steel maintains that its pricing reflects international market movements and input cost variations. The company awaits the complete CCI documentation before filing its formal reply, emphasizing due process and market transparency. 

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